The Deposit is given by the Depositor to a Lender as security for a loan / facility provided by the Lender:

In consideration of the provision by the Lender to the Depositor of banking accommodation facilities and services under which the Lender agreed to make available to the Depositor.

Unless and until all Liabilities have been fully ascertained and fully repaid and discharged and the Lender shall have no further actual or contingent liability under the Facility Agreement, the Deposit shall not be repayable (in whole or in part) by the Lender to the Depositor or any other person.

Unless and until all Liabilities have been fully ascertained and fully repaid and discharged and the Lender shall have no further actual or contingent liability under the Facility Agreement, the Depositor shall not be entitled to withdraw the Deposit or any part thereof save for any interest to be paid, without the prior written consent of the Lender.

How to use this Document?

This document should be carefully read by the Depositor and the Lender.

The depositor should sign and return a copy, and once signed, both parties should get a copy.

The details regarding the Account of the Deposit, whether the Deposit would be registered as a Security, and other related details should all be clearly stated in the Deed.

If any party wishes to amend the agreement in the future, all parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by all parties.